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These days, finding an affordable place to live in the Detroit Lakes area can be challenging. Home prices in Detroit Lakes are now at a median cost of $232,507, lower than the Minnesota average of $269,934.
The average cost of rent is $891/mo in Detroit Lakes, primarily driven by the current value of real estate in the Detroit Lakes area. While nearly 39.92% of residents own their homes outright in Detroit Lakes, 25.73% rent.
Housing affordability isn’t just about home prices, though. The average household income in Detroit Lakes is $5,558 per month. Households that rent pay about 16.04% of their income on rent here. Detroit Lakes's most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Shoreham, MN: higher priced homes
- Westbury, MN: higher priced homes
- Rochert, MN: higher priced homes
- Audubon, MN: higher priced homes
- Lake Eunice, MN: higher priced homes
- Callaway, MN: less expensive homes
- Frazee, MN: less expensive homes
- Vergas, MN: higher priced homes
- Richwood, MN: less expensive homes
- Lake Park, MN: higher priced homes
Cities with Similar Populations
- Great Lakes, IL: higher priced homes
- Hampton Bays, NY: higher priced homes
- Hampstead, MD: higher priced homes
- Gulf Shores, AL: higher priced homes
- Gretna, NE: higher priced homes
- Greenville, PA: less expensive homes
- Greendale, WI: equally priced homes
- Greencastle, IN: less expensive homes
- Greece, NY: less expensive homes
- Union City, TN: less expensive homes
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